Paytm Payments Services Limited secured in-principle approval from the Reserve Bank of India to issue prepaid payment instruments, including digital wallets. This development creates a fresh operational path after the central bank cancelled Paytm Payments Bank's licence on April 24, 2026. However, immediate commercial rollout remains on hold until the unit completes mandatory compliance steps. Full operational rollout requires the subsidiary to complete a systems and cybersecurity audit within a six-month window.
Key points
The preliminary central bank approval enables Paytm to rebuild its disrupted digital wall…: The preliminary central bank approval enables Paytm to rebuild its disrupted digital wallet services under a separate subsidiary.
Final regulatory clearance depends on submitting a comprehensive systems and cybersecurit…: Final regulatory clearance depends on submitting a comprehensive systems and cybersecurity audit report within six months.
The renewed regulatory headway has helped the company's stock finally eclipse its initial…: The renewed regulatory headway has helped the company's stock finally eclipse its initial November 2021 listing price.
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Shares of Paytm, the parent company of One 97 Communications, have crossed their IPO listing-day high for the first time since the company's stock market debut in November 2021, following a major regulatory development concerning its digital wallet business.
During market hours on Friday, the company announced that its payments services subsidiary, Paytm Payments Services Limited (PPSL), had received preliminary approval from the Reserve Bank of India (RBI) to issue prepaid payment instruments (PPIs), including digital wallets. The development marks a significant regulatory milestone for the company as it looks to revive its wallet business.
Following the announcement, Paytm shares jumped nearly 2% to hit ₹1,960, surpassing their listing-day high of ₹1,955 touched in November 2021. The stock was last seen trading around these levels during its market debut, making Friday's move a significant milestone for investors who have held the stock since its IPO.
The approval is significant because Paytm's wallet operations were affected by regulatory action against Paytm Payments Bank, which had been closely associated with its earlier wallet ecosystem.
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